Indian Indices Open Weak

Thu, 7 Apr 09:30 am

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Barring Taiwan, major Asian stock markets have opened the day on a mixed note. Stock markets in China and Taiwan are trading lower by 0.8% and 0.6% respectively. Whereas, stock market in Indonesia is trading higher by 0.5%. Benchmark indices in Europe and US ended their previous session on an encouraging note with stock markets in UK and US ending the day higher by 1.1% and 0.6% respectively. The rupee is trading at 66.58 per US$.

Indian stock markets have opened the day on a negative note. The BSE Sensex is trading lower by 52 points (down 0.2%) and NSE Nifty is trading lower by 14 points (down 0.2%). BSE Mid Cap and BSE Small Cap are trading higher by 0.4% and 0.3% respectively. Major sectoral indices have opened the day on a mixed note with stocks from automobile and telecommunication sectors witnessing selling pressure. However, stocks in the pharmaceutical and metal sector are the top gainers in the pack.

As per an article in Livemint, Tata Motor's launched its compact hatchback named 'Tiago' yesterday. This model could set off a price war in the small car segment. The base model starts at Rs 3.2 lakh for petrol version and Rs 3.94 lakh for the diesel variant (ex-showroom, Delhi). The base models is around Rs 80,000 cheaper than Maruti Suzuki's Celerio, Rs 90,000 less than the Wagon R and Rs 1.68 lakh less than Grand i10 Era in Delhi.

Reportedly, this disruptive pricing is expected to shake up the small-car market, which has so far been the dominated by companies like Maruti and Hyundai Motor India Ltd.

Tiago has a 1.2-litre Revotron petrol engine and a one-litre turbocharged Revotorq diesel motor. Tata Motors is producing the Tiago at its Sanand factory in Gujarat.

One in every two cars sold in India is a small car. Hence, this launch holds a significant importance to the company as it aims to move up on the priority list of individual buyers in this segment. Tata motors had recently launched two brands in the passenger vehicle category, Bolt and Zest. However both these brands have not seen enough traction. Tata motors business in India has come under pressures owing to the increasing competition. Thus, it will be interesting to see whether the company is able to gain better market share with this new launch.

In another news update, brewing competition from companies like Patanjali Ayurveda Ltd and rising raw material prices could possibly hurt the margins of <>Hindustan Unilever Ltd.

Reportedly, nearly 45% of the company's portfolio is under competitive threat from Patanjali. Further, rising crude oil prices too could affect the margins. Prices for key raw material such as linear alkyl benzene (LAB), liquid paraffin and packaging material prices are on an upward trend. Further, increased competition may lead to higher expenditure on promotion and advertisements which may in-turn dampen the margins.

Going forward, threat from ayurvedic companies such as Patanjali and Sri Sri will be closely tracked to assess its impact on the companies such as HUL, Colgate, Dabur etc.

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